“Lithium is becoming an increasing vital element that will be essential in the development of sustainable technologies to curb global warming emissions,” noted Wang Xiaoshen, General Manager of Ganfeng Lithium. “We look forward to having additional Lithium supply source in the future from ILC to meet our growing demand for Lithium element.”
It is very interesting timing for the International Lithium, stock is trading at 0.22CAD and somebody else is taking the position at 0.275CAD. It is a Flow-Through - which is supposed to be done at the premium to the hard dollars, but it is nice to see this premium to the market price and recent IPO pricing at 0.25CAD. Serious investors must like the story and do not afraid of recent general market hesitation after the last two weeks gains. If somebody seriously considering the U.S. to Default or Italy sink into the Mediterranean - it will be another story. In all other cases the Debt problem will be resolved by the old and tested means of QE or money printing in the old school. Oil, Gold, Silver, Copper can not be printed as Lithium and Rare Earths. The smaller the market - the more powerful fireworks we are going to see down the road.
Financing should be closed before anybody will get too excited, but it is a very good indication that the company is going to be aggressive with its Rare Metals projects in Canada this summer as it is discussed in the recent corporate update:
"Inaugural International Lithium Corp. President's Message; Argentina and Canada Projects Update. Our Top Pick in Lithium and Rare Metals sector is getting on the strong footing and is going to hit with drills the grounds in Argentina and Canada with the exploration programmes this summer. Company is moving very fast forward and just after its IPO in May has already build the camp, drilling pads and roads on its Mariana Brine project in Argentina. It looks like everything is ready for the drilling campaign just after the winter in Argentina."
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VANCOUVER, BRITISH COLUMBIA, Jul 11, 2011 (MARKETWIRE via COMTEX News Network) -- International Lithium Corp. (TSX VENTURE:ILC)(TSX VENTURE:ILC.WT)
(the "Company") announces that it intends to complete a private
placement of 3,636,363 flow-through units of the Company at a price
of $0.275 per unit for total gross proceeds of up to $1,000,000. Each
flow-through unit will consist of one flow-through common share and
one-half of one transferable non-flow-through share purchase warrant.
Each whole warrant will entitle the holder to purchase one
non-flow-through common share at a price of $0.40 for 2 years from
the closing date.
In connection with the private placement, the Company may pay
finder's fees in cash or securities or a combination of both, as
permitted by the policies of the TSX Venture Exchange.
The funds will be used for exploration on the Company's Canadian rare
metals projects located in Ontario and the Northwest Territories.
Closing of the private placement is subject to the Company receiving
conditional acceptance from the TSX Venture Exchange.
ABOUT INTERNATIONAL LITHIUM CORP.
International Lithium Corp. is an international rare element metals
("REM") mineral exploration company with an outstanding portfolio of
projects, strong management ownership, robust financial support and a
prominent lithium product manufacturer as a keystone investor.
ILC currently has 9 active REM projects, well balanced between
lithium brines in Argentina and Nevada and hard-rock pegmatites in
Canada and Ireland. The Company's primary focus is the Mariana
lithium brine project, a salar or 'salt lake', covering an expansive
160 square kilometres and strategically encompassing the entire
basin. Mariana is located in the renowned South American 'Lithium
Belt' centred on the junction of Argentina, Bolivia and Chile that is
host to the vast majority of global lithium resources, reserves and
production. The Mariana lithium brine project ranks as one of the
more prospective salars in the region.
Complementing the Company's lithium brine projects are the REM
pegmatite properties. The key characteristics shared by the hard-rock
REM projects are their limited past exploration, excellent
accessibility, limited assaying for rare metals, clear potential for
additional exploration to add project value and development potential
to meet the global technological growth in demand for the REM suite
International Lithium Corp.'s mandate is to increase shareholder
value through aggressive advancement of its core projects and to
source joint venture partners to expand the scope and diversify risk
of its exploration effort.
On behalf of the Board,
Mike Sieb, President - International Lithium Corp.
Statements in this press release other than purely historical
information, historical estimates should not be relied upon,
including statements relating to the Company's future plans and
objectives or expected results, are forward-looking statements. News
release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended. Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company's business, including risks inherent in
resource exploration and development. As a result, actual results may
vary materially from those described in the forward-looking
Shares CUSIP: #459820 10 6
Warrant CUSIP: #459820 11 4
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
International Lithium Corp.
(604) 687-7551 or 1-800-667-4470
(604) 687-4670 (FAX)
SOURCE: International Lithium Corp.
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